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What Twitter did well I think was handle the non-trvial problems of scale, and did a fairly credible job of content moderation. I can find fault with a lot of how they handled that but they did honestly try. Becoming the dominant platform is always largely luck, but had they not adequately handled scale and content they would not have lasted for so long. Content moderation is a people, process, and technology problem.
Twitter like it or not has been pivotal for connecting people around the world especially those with less developed infrastructure. The Arab Spring events would not have happened without it. Which is why I think the Saudis were happy to give Elon money. They knew he’d either make it more friendly for them, or kill it and they’d have a hold on him because of the money he owes.
Their content filtering/categorisation was also quite good. They’re one of the few sites I can think of that had a bit more clarification than a basic “NSFW/Sensitive Content” tag, even if it came rather late, so if something was marked correctly, you could get an idea of what kind of NSFW content it was, without unblurring the image.